Retail N Illinois

Greenstone Partners brokers sale of Lockport shopping center

Greenstone Partners brokers sale of Lockport shopping center,ph1

Greenstone Partners successfully sold Regency Point, a 55,000-square-foot, multi-tenant retail center located in Lockport, Illinois, a southwest suburb of Chicago. The investment is situated along east 9th Street surrounded by national retailers and is less than two miles from Interstate 355.

Regency Point is 100-percent leased with two anchor tenants, Planet Fitness and Ace Hardware, both with long-term lease commitments. The balance of tenancy includes e-commerce-resistant tenants such as Dunkin’ Donuts, ATI Physical Therapy, USPS, Subway and Edward Jones, to name a few.

Greenstone Partners created a competitive bid environment by garnering 10 offers from a local, regional and national audience. Greenstone Partners represented the seller, a Chicago-based investor and also procured the buyer, a 1031 exchange buyer based out of south Florida.